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CNOOC Limited expecting 58,700 bpd by 2020 from Penglai production

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CNOOC Limited one of the three partners in Guyana’s offshore Stabroek Block, announced on September 18, 2018 that the Penglai 19-3 oilfield project has commenced production. The project, known formally as the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project is...
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Oil rises as Saudis are said to be content with prices over $80

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(Bloomberg) Oil rose as Saudi Arabia was said to be comfortable with Brent crude exceeding $80 a barrel. Futures in London added as much as 1.7 percent. The world’s biggest crude exporter is content to see the global benchmark advance,...
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Guyana, Trinidad to sign energy MoU this week

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Trinidad and Tobago’s Prime Minister, Dr. Keith Rowley is set to visit Guyana this week to sign the much talked about Memorandum of Understanding on Energy. According to a statement from Guyana's Foreign Ministry on Saturday, Dr. Keith Rowley is scheduled...
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Kosmos Energy completes acquisition of Deep Gulf Energy

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Komos Emeergy said on Monay that it has completed the previously announced acquisition of Deep Gulf Energy, a leading deepwater company operating in the Gulf of Mexico. By acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an established...
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Call for halt to oil production is ‘self-promoting stunt in pursuit of ulterior motive’ – former minister

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Debate on a myriad of issues continues in Guyana as the country gears up to become a major oil producer in the region. A former government official is describing as ‘disturbing’, a recent call for the Guyana government to...
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Guyana can go green but the world needs its oil – former BP executive

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Can a green economy co-exist with a petroleum industry? The short answer, according to Professor Gary Dirks, is yes. “There is absolutely no reason why you cannot have a green growth agenda, pursued aggressively, and be an oil producing nation...
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Schlumberger in search of office supplies for Guyana operations

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Schlumberger is ramping up its operations in the South American country of Guyana and is gearing up to begin sourcing supplies for its new drilling fluids facility currently under construction. The company is seeking a contractor to supply, deliver and...
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IEA warns of higher oil prices as Iran, Venezuela losses deepen

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The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela, Bloomberg reports. Iranian crude exports have fallen significantly before U.S. sanctions even...
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Hurricane Florence affects oil and gas projects, facilities

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Hurricane Florence is churning over the Carolinas, knocking out power and threatening coastal flooding in a torrent that could have implications for energy trade and oil and gas construction projects in the area. S&P Global Platts on Friday noted that...
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Guyana gov’t says no illegalities or nefarious objectives guided approval of Liza Phase-1 billion-plus barrel development

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Guyana’s Ministry of Natural Resources MNR said on Friday afternoon that the decision to move ahead with the Liza Phase 1 development project – set to rake in an estimated 7 billion US dollars over its lifetime – was...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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